KIDO signs deal with TTC on sugar

Food producer KIDO Group (KDC) will invest in producing and trading sugar in the Vietnamese market.— Photo enternews.vn

HCM CITY — Food producer KIDO Group (KDC) will invest in producing and trading sugar in the Vietnamese market.

On Tuesday, the company signed a co-operation agreement with Thành Thành Công Joint-Stock Company (TTC).

Under the agreement, KDC will become sole distributor of some products manufactured by TTC. The company will also be responsible for developing TTC product distribution through its system of 200 distributors and 450,000 retail places.

The agreement between the two companies will be divided into two phases.

In the first phase, KIDO will distribute products with the brand name Biên Hoà Sugar produced by TTC. In this phase, the two sides have agreed to a commitment on the consumption yield.

In the second phase, the two companies will develop their own products under a new brand name.

KIDO said that it would distribute about 60,000 tonnes of sugar in 2018, worth a total of VNĐ1.1 trillion (US$48 million).